Macy’s just announced that they’ll be closing a whopping 125 stores starting this year (over the course of three years). They stated that this is due to the fact that they had a disappointing holiday season in terms of sales. This will result in roughly 2,000 lost corporate jobs on top of the lost jobs at each location.
Once these 125 locations have closed, there will still be 400 Macy’s locations remaining. Macy’s is currently testing out a new concept of opening smaller stores in strip malls, where people tend to shop more compared to malls.
They have not released a full list of closing locations yet. What are your thoughts on this announcement by Macy’s?
